T
Originally published by The Kenyan Wall Street
📰 Read Full Article
business
August 18, 2025
1d ago

Rule of Law is Pivotal to Africa’s Prosperity, AfDB President Says

Rule of Law is Pivotal to Africa’s Prosperity, AfDB President Says

Africa’s true wealth lies its ability to govern natural resources transparently, outgoing AfDB President Dr. Akinwumi Adesina...

✨ Key Highlights

Dr. Akinwumi Adesina, outgoing President of the African Development Bank Group (AfDB), emphasized at the Law Society of Kenya’s 2025 Annual Conference that the rule of law is crucial for Africa's prosperity. He stated that transparent governance, fair contract enforcement, and justice for all citizens are vital, attracting foreign direct investments to countries with political stability and low corruption.

  • Africa faces a $100 billion annual gap in foreign direct investment due to weak rule of law and "vulture fund" cases.
  • Dr. Adesina highlighted the need for an independent judiciary and strong regulatory frameworks to build trust with foreign investors.
  • He urged African nations to strengthen judicial independence and reform natural resource laws to ensure benefits reach communities and not just elites.

Continue Reading

Read the complete article from The Kenyan Wall Street

📰 Read Full Article